Livforsakringsbolaget Skandia Omsesidigt Grows Position in Ameriprise Financial, Inc. (NYSE:AMP)

Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 0.8% in the fourth quarter, Holdings Channel reports. The fund owned 11,711 shares of the financial services provider’s stock after purchasing an additional 88 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Ameriprise Financial were worth $4,448,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. OFI Invest Asset Management purchased a new stake in shares of Ameriprise Financial during the third quarter valued at about $25,000. Financial Freedom LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $34,000. Carmel Capital Partners LLC purchased a new stake in shares of Ameriprise Financial during the third quarter valued at about $30,000. Finally, FinTrust Capital Advisors LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $32,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Piper Sandler increased their price objective on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research report on Friday, April 5th. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Evercore ISI increased their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. The Goldman Sachs Group increased their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Finally, UBS Group increased their price objective on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and an average target price of $441.00.

Insider Buying and Selling

In other news, CEO William F. Truscott sold 9,689 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the sale, the chief executive officer now owns 12,126 shares of the company’s stock, valued at approximately $4,731,807.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO William F. Truscott sold 9,689 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the sale, the chief executive officer now owns 12,126 shares of the company’s stock, valued at approximately $4,731,807.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James M. Cracchiolo sold 2,493 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $401.11, for a total transaction of $999,967.23. Following the sale, the chief executive officer now directly owns 196,598 shares in the company, valued at approximately $78,857,423.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,161 shares of company stock worth $35,560,647. 0.96% of the stock is owned by company insiders.

Ameriprise Financial Stock Performance

NYSE:AMP traded up $0.92 during midday trading on Wednesday, hitting $411.77. The company’s stock had a trading volume of 518,103 shares, compared to its average volume of 486,216. Ameriprise Financial, Inc. has a fifty-two week low of $279.85 and a fifty-two week high of $440.67. The firm’s 50 day moving average is $415.72 and its 200-day moving average is $376.51. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market cap of $41.26 billion, a P/E ratio of 17.37, a P/E/G ratio of 0.68 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share for the quarter, topping the consensus estimate of $7.67 by $0.08. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the prior year, the company earned $6.94 EPS. Ameriprise Financial’s quarterly revenue was up 9.0% on a year-over-year basis. Equities analysts anticipate that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Friday, February 9th were issued a $1.35 dividend. The ex-dividend date was Thursday, February 8th. This represents a $5.40 annualized dividend and a yield of 1.31%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.78%.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.